At Sullivan & Company CPA Inc., our forensic accounting experience reinforces that precise documentation prevents future IRS disputes. If you or a family member navigate tip income, the May due date is a critical compliance check.

The May 11 Tip Reporting Deadline

Employees receiving over $20 in tips during April must report them to their employer by May 11. Use IRS Form 4070 or a signed statement detailing your name, address, Social Security number, employer information, reporting period, and total tips.

How Withholding Works

Employers must withhold FICA and income taxes for reported tips from your regular wages. If standard wages cannot cover this, the uncollected withholding appears in box 8 of your W-2 and must be paid when filing your annual return.

Weekends, Holidays, and Disaster Extensions

Deadlines falling on weekends or legal holidays automatically move to the next business day. Furthermore, designated disaster areas often receive extensions. Verify geographical disaster statuses here:

• FEMA: https://www.fema.gov/disaster/declarations
• IRS: https://www.irs.gov/newsroom/tax-relief-in-disaster-situations

Whether you need forensic accounting insights or comprehensive estate planning in Burlingame, contact our firm to secure your financial legacy.